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Barrett Business Services, Inc.(BBSI)Earnings, Financials & Key Ratios
BBSI•NASDAQ
$38.05
18.2× P/E·Price updated Jul 7, 2026
AboutBarrett Business Services, Inc. provides business management solutions for small and mid-sized companies in the United States. The company develops a management platform that integrates a knowledge-based approach from the management consulting industry with tools from the human resource outsourcing industry. It offers professional employer services under which it enters into a client services agreement to establish a co-employment relationship with each client company, assuming responsibility for payroll, payroll taxes, workers' compensation coverage, and other administration functions for the client's existing workforce. The company also provides staffing and recruiting services, such as on-demand or short-term staffing assignment, contract staffing, direct placement, and long-term or indefinite-term on-site management services. It serves electronics manufacturers, light-manufacturing industries, agriculture-based companies, transportation and shipping enterprises, food processors, telecommunications companies, public utilities, general contractors in various construction-related fields, and professional services firms. The company was incorporated in 1965 and is headquartered in Vancouver, Washington.Show more
- Revenue$1.24B+8.4%
- EBITDA$70M+4.5%
- Net Income$54M+2.7%
- EPS (Diluted)2.09+5.6%
- Gross Margin21.04%-4.9%
- EBITDA Margin5.68%-3.6%
- Operating Margin5.01%-4.0%
- Net Margin4.39%-5.2%
- ROE23.55%-6.6%
BBSI Price & Volume
Barrett Business Services, Inc. (BBSI) stock price & volume — 10-year historical chart
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Actuarial Volatility Masks Underlying Operational Cash Risks
Investment Thesis • Updated 2026Q1
VerdictNeutral
Growth:Mixed
Profitability:Strained
Financial:Healthy
Cash Flow:Mixed
Primary Risk:Workers' compensation reserve volatility
Key Thesis Takeaways
- Barrett Business Services faces a complex outlook where cyclical revenue growth, which decelerated to 4.9% in 2026Q1, is frequently obscured by significant non-cash actuarial adjustments to workers' compensation reserves.
- While the company maintains a conservative capital structure with a debt-to-equity ratio of 0.12, the inherent instability in operating margins—ranging from -2.1% to 8.0% over the last ten quarters—suggests that earnings quality remains fragile.
- Investors should monitor the company's aggressive capital allocation, including $21.6 million in share repurchases during 2026Q1, against the backdrop of highly erratic free cash flow that swung from a $58.2 million outflow in 2025Q2 to a $70.6 million inflow in 2025Q4.
Verdict Logic
while the balance sheet is healthy with a 0.12 debt-to-equity ratio, the extreme volatility in quarterly free cash flow and reliance on actuarial estimates for earnings quality warrant a cautious, wait-and-see approach.
BBSI Growth Metrics
Barrett Business Services, Inc. (BBSI) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years5.29%
5 Years7.08%
3 Years5.56%
TTM7.12%
Profit CAGR
10 Years7.88%
5 Years10.03%
3 Years4.83%
TTM-21.96%
EPS CAGR
10 Years9.16%
5 Years13.7%
3 Years8.42%
TTM-20.62%
Return on Capital
10 Years11.92%
5 Years14.65%
3 Years16.2%
Last Year16.36%
BBSI Recent Earnings
Barrett Business Services, Inc. (BBSI) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 10/12 qtrs (83%)●Beat Revenue 6/12 qtrs (50%)
Q2 2026Latest
May 6, 2026Metric
Actual
Est
EPS
$0.13+13.3%
$0.15
Rev
$307M+0.1%
$307M
Q1 2026
Feb 25, 2026Metric
Actual
Est
EPS
$0.64+0.0%
$0.64
Rev
$321M-1.6%
$326M
Q4 2025
Nov 5, 2025Metric
Actual
Est
EPS
$0.79-2.5%
$0.81
Rev
$319M-1.4%
$323M
Q3 2025
Aug 6, 2025Metric
Actual
Est
EPS
$0.70+7.7%
$0.65
Rev
$308M+2.6%
$300M
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | May 6, 2026 | $0.13vs $0.15+13.3% | $307Mvs $307M+0.1% |
| Q1 2026 | Feb 25, 2026 | $0.64vs $0.64+0.0% | $321Mvs $326M-1.6% |
| Q4 2025 | Nov 5, 2025 | $0.79vs $0.81-2.5% | $319Mvs $323M-1.4% |
| Q3 2025 | Aug 6, 2025 | $0.70vs $0.65+7.7% | $308Mvs $300M+2.6% |
Based on last 12 quarters of dataView full earnings history →
Peers Comparison
Key metrics vs top competitors for Barrett Business Services, Inc. (BBSI)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $38.05 | $934.49M | 18.21 | 8.37% | 4.39% | 23.55% | 0.83% | |
| $50.08 | $1.44B | 10.24 | 13.6% | 14.33% | 17.98% | — | |
| $90.76 | $39.62B | 26.69 | 3% | 19.93% | 12.68% | — | |
| $55.85 | $2.58B | 17.67 | -0.85% | 3.22% | 179.66% | — | |
| $54.40 | $994.32M | 27.76 | -5.43% | 2.6% | 27.22% | — | |
| $180.41 | $2.34B | 7.25 | 20.21% | 32.64% | 30.81% | — |
Compare BBSI vs Peers
Barrett Business Services, Inc. (BBSI) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
BBSI SEC Filings & Documents
Barrett Business Services, Inc. (BBSI) SEC filings — annual & quarterly reports (10-K, 10-Q)
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BBSI Frequently Asked Questions
Barrett Business Services, Inc. (BBSI) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
What is Barrett Business Services, Inc.'s revenue?
Barrett Business Services, Inc. (BBSI) reported $1.25B in revenue for fiscal year 2025. This represents a 481% increase from $215.8M in 1996.
How fast is Barrett Business Services, Inc. growing?
Barrett Business Services, Inc. (BBSI) grew revenue by 8.4% over the past year. This is steady growth.
Is BBSI profitable?
Yes, Barrett Business Services, Inc. (BBSI) is profitable, generating $40.7M in net income for fiscal year 2025 (4.4% net margin).
Dividend & Returns
Does BBSI pay dividends?
Yes, Barrett Business Services, Inc. (BBSI) pays a dividend with a yield of 0.83%. This makes it attractive for income-focused investors.
What is BBSI's return on equity?
Barrett Business Services, Inc. (BBSI) has a return on equity (ROE) of 23.5%. This is excellent, indicating efficient use of shareholder capital.
What is Barrett Business Services, Inc.'s free cash flow?
Barrett Business Services, Inc. (BBSI) generated $18.7M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.